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On December 10, 2015 I gave a talk at Centre O Connect in Sheung wan setting out the nitty gritty of the Hong Kong entrepreneur visa since the implementation of the Enhancement Measures on May 6, 2015.

PRACTICE UPDATE: How to read in light of current ImmD policy:

• Historical Editorial Standard: In this core segment of the Centre O lecture series, the Geeza deconstructs how to navigate and satisfy the statutory “substantial contribution to the economy” test. Historically, the presentation framed passing the test as a dynamic, subjective balancing act where case officers exercised broad administrative discretion. An applicant could pass by weaving together a credible narrative of founder expertise, demonstrating reasonable personal funds to sustain initial startup losses over the first two quarters, showing a logical 2-year business projection, and offering plausible promises to recruit local staff as commercial momentum grew.

• Comparative Reading Under the Upgraded Regime: The notion that an applicant can “pass the test” through a favorable discretionary balancing of qualitative factors is completely defunct. Under ImmD’s post-April 2026 assessment standards aligned with the TTPS Category A operational substance baseline (~HKD 2.5M enterprise scale), passing the approvability test has transitioned from a subjective narrative evaluation into a binary, institutional audit. Case officers no longer evaluate what a business might contribute down the line; the test is passed exclusively by demonstrating immediate, verified commercial reality on day one. To pass the test today, the application dossier must establish:

  1. Immediate Deployed Capital: HKD 1.5M to HKD 2.0M in unencumbered risk capital fully cleared into an active Hong Kong corporate bank account (excluding offshore promises or prospective investor letters).

  2. Dedicated Physical Tenancy (“Four Walls”): An executed commercial lease granting exclusive physical possession with commercial utility records and company signage, barring co-working spaces or serviced business centres.

  3. Immediate Local Job Creation: 2 to 3 full-time local Hong Kong permanent residents actively drawing market salaries with MPF contributions confirmed prior to approval.

  4. Audited Three-Year Operational Horizon: Unit economics substantiating deep domestic ecosystem ties within Hong Kong.

Attempting to “pass the test” using the historical formula of prospective promises, modest seed funding, and qualitative storytelling will now result in swift administrative requisitions and summary refusal. Early-stage founders unable to meet these rigid benchmarks can only bypass them by securing admission into an accredited government-backed incubation scheme (such as Cyberport or HKSTP).

In this segment, I discuss what it takes to get approved for a Hong Kong entrepreneur visa under the Business Investment Visa. Here, also, are the 10 Must Have Resources discussed in the talk, along with a synopsis of the various accredited programmes found here.

More In This Series

Introduction

How Did We Get Here?

Startup vs. Entrepreneur

Getting Approved

The Question of Money

Passing the Approvability Test

Improve Your Chances

D-I-Y Application

Other Relevant Content

How To Apply for a Hong Kong Business Investment Visa Without Any Professional Help

Hong Kong Entrepreneur Visa (Business Investment) – A Practical Guide

Is the Hong Kong Startup Visa All That It’s Cracked Up to Be?

Hong Kong Visa Handbook – The Entrepreneur Visa